The food industry is rapidly evolving. Apart from staying on top of the emerging technologies and innovations, companies in the food industry must also keep a close watch on the changing consumer preferences and rising costs. Globally, the food industry in emerging markets including the Philippines, China, and Malaysia are booming, while more established and mature markets such as the US, Europe, and Canada are showing stagnant and slower levels of growth.
There are similar macro trends that are driving growth and innovation across the globe despite varying economic and cultural differences. Infiniti Research reveals four food industry trends to expect in 2019 as this sector grapples with changing eating habits.
Food industry trends 2019
Increasing demand for transparency
One of the biggest food industry trends this year is the rising consumer need for transparency. Modern consumers are well-informed and greatly interested in knowing the ingredients that go into the food products that they consume. Considering the rise of health and diet-conscious customers, a greater number of consumers are reading the back of packages now more than ever.
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At-home meals
Recent research reveals food industry trends wherein a greater number of consumers prefer to have their meals delivered to their homes. This is primarily due to factors including streaming media, work from home, and the rising need to stay away from the maddening crowd. Consequently, through mid of 2018 to throughout 2019, the decline in dining at restaurants is expected to become one of the ongoing food industry trends.
Made to order/customization
This is one of the food industry trends that have been evolving for years due to the growing demand of consumers to personalize the meals that they eat. Furthermore, the dietary preferences, restrictions, and allergic reactions to certain food items are some of the main factors that are driving the popularity of customization in meals to suit the needs of individual consumers.
Channel blur
An increasingly diverse array of operators in the food industry are venturing into food service in order to compete for their “share of stomach”. Players in the food industry no longer compete with only counterparts offering similar products. Rather, they now have to compete with segments including food trucks, convenience stores, supermarkets, and other meal kits that provide innovative options for consumers who are looking for variety and flexibility.
What were the top food industry trends in 2018?
Infiniti’s solutions for the food industry
In a highly dynamic sector such as the food industry, it is essential to keep tabs on the food industry trends. Furthermore, the uncertainties in the global economy are expected to take the center stage in the future of the food industry. Infiniti Research adopts a holistic approach to market research and provides comprehensive insights into the food industry trends, challenges, and strategies to strive in the target market. With a team of highly skilled market research professionals, we offer advanced, customized solutions that will help food and beverage companies to magnify competitive advantage by improving speed-to-market and stay up-to-date with the latest food industry trends.
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